VAALCO Energy(US:EGY)2025-03-14 15:03Financial Performance - Total revenues increased by 6% from $455 million in 2023 to $479 million in 2024[14] - Adjusted EBITDAX increased by 8% from $280 million in 2023 to $303 million in 2024[14] - Vaalco generated net income of $58.5 million and Adjusted EBITDAX of $303 million in FY2024[16] Reserves and Production - SEC Proved Reserves increased by 57% from 28.6 MMBOE in 2023 to 45.0 MMBOE in 2024[14, 16] - 2P WI CPR Reserves increased by 24% from 77.3 MMBOE in 2023 to 96.1 MMBOE in 2024[14, 16] - WI production reached 24,738 BOEPD and NRI Sales reached 19,843 BOEPD in FY2024[16] Strategic Acquisitions and Developments - Vaalco strategically expanded into Côte d'Ivoire with the acquisition of Svenska for $40 million[16] - The company paid back 1.8x its initial net investment in Côte d'Ivoire in the eight months since closing the Svenska acquisition[16, 46] - Vaalco acquired a 70% WI in the CI-705 block in offshore Côte d'Ivoire[16] Capital Expenditures and Guidance - Cash capital investment increased by 6% from $97 million in 2023 to $103 million in 2024[14] - FY2025 capital expenditures are projected to be in the range of $270 million to $330 million[76]